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Amaravati Capital Project Gets ₹13,500 Crore Loan from World Bank and ADB The Amaravati capital project, a significant infrastructure initiative in Andhra Pradesh, has received a major financial boost with a ₹13,500 crore loan from the World Bank and the Asian Development Bank (ADB). This development is part of the state’s ongoing efforts to build…
RBI Maintains SBI, HDFC Bank, and ICICI Bank as D-SIBs (Domestic Systemically Important Banks) Introduction On November 13, 2024, the Reserve Bank of India (RBI) announced that it has maintained the status of State Bank of India (SBI), HDFC Bank, and ICICI Bank as Domestic Systemically Important Banks (D-SIBs). These banks, being crucial to the…
RBI’s New Framework for Converting FPI Holdings to FDI The Reserve Bank of India (RBI) recently introduced a new framework to facilitate the conversion of Foreign Portfolio Investment (FPI) holdings into Foreign Direct Investment (FDI). This move aims to attract more long-term investments into the Indian economy and support the growth of businesses. Under this…
PSBs Post Strong H1 FY25 Growth Driven by Reforms & Technology Public Sector Banks (PSBs) in India have reported significant growth in the first half (H1) of the fiscal year 2025, fueled by several key factors such as structural reforms, technological advancements, and improved operational efficiency. The robust performance of these banks marks a positive…
ADB Approves $200 Million Loan for Uttarakhand Livability Improvement Project The Asian Development Bank (ADB) has approved a significant loan of $200 million to aid the Uttarakhand Livability Improvement Project. This project, aimed at enhancing the livability of cities in the state of Uttarakhand, will address critical infrastructure needs, improve urban services, and focus on…
RBI Updates KYC Rules to Enhance Verification and Security In a recent development, the Reserve Bank of India (RBI) has updated its Know Your Customer (KYC) guidelines to improve verification processes and strengthen security measures in the banking sector. These changes aim to address the increasing need for robust verification methods in the wake of…
Deutsche Bank Infuses ₹5,113 Crore to Boost India Operations Deutsche Bank, one of the leading global financial institutions, has announced a substantial investment of ₹5,113 crore to enhance its operations in India. This move comes as part of the bank’s strategy to strengthen its position in the Indian market, which has been growing rapidly in…
Punjab & Sind Bank Launches e-Bank Guarantee Facility with NESL Introduction to e-Bank Guarantee Facility In a major development, Punjab & Sind Bank has launched an electronic bank guarantee (e-BG) facility in collaboration with the National E-Governance Services Ltd (NESL). This initiative aims to digitize the traditional bank guarantee process and enhance the ease of…
Canara Bank Aims for ₹60,000 Crore Recovery in H2 FY25 Introduction to Canara Bank’s Recovery TargetCanara Bank, one of India’s largest public sector banks, has set an ambitious target to recover ₹60,000 crore in the second half of the fiscal year 2024-25 (H2 FY25). This strategic initiative is part of the bank’s broader objective to…
SBI Mutual Fund Surpasses ₹10 Lakh Crore in AUM: A Milestone in the Financial Sector SBI Mutual Fund, a prominent player in India’s asset management industry, has recently achieved a significant milestone by surpassing ₹10 lakh crore (₹10 trillion) in assets under management (AUM). This landmark achievement positions SBI Mutual Fund as the largest mutual…
